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December 2011
Brazil's national oil company, Petrobras, has canceled the tender process for 21 domestically-built rigs
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Ecopetrol is nearing close on about $3.5 billion in financing for the $5.18 billion Refineria de Cartagena in Colombia.
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Armada TGT, subsidiary of Bumi Armada, has closed a $341.1 million club for costs relating to the conversion and installation of the FPSO Armada TGT 1.
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Hoegh LNG has mandated Standard Chartered and Bank of Tokyo-Mitsubishi UFJ as financial advisers on the financing of a regasification vessel that it has on order from Hyundai Heavy Industries.
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Bank bids are due on 15 December for the $6 billion 16-year Chexim and US Ex-Im-backed debt backing the $14 billion first phase of the $20 billion two-train Australia Pacific LNG project.
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Despite perceived illiquidity in the international bank market, Qatar Petroleum (QP) and ExxonMobil, along with financial advisor Royal Bank of Scotland, have reached financial close on the $10.3 billion Barzan gas project – Qatar’s biggest project financing to date.
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OSX is preparing around $3 billion-plus in financing for FPSO and wellhead platform projects
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The International Finance Corporation is considering a $300 million financing for Braskem and Grupo Idesa’s $4.3 billion Etileno XXI
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The sponsors of the Ruby pipeline have postponed plans for a $1.425 billion combined bank and bond refinancing.
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Schahin has closed the $692 million 10-year debt financing for its $865 million Black Diamond 1 drill-ship.
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French oil major Total has agreed to acquire GDF Suez’ stake in the Elgin and Franklin gas condensate fields
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Trader Mercuria Energy has closed a $755 million Asian revolving credit facility with 29 lenders
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Citing a lack of economic feasibility, Bulgaria has announced it will unilaterally pull out of the Eu1 billion ($1.34 billion) Trans Balkan Pipeline project in 12 months if Greece and Russia do not agree to mutually scrap the trilateral agreement for the project signed in 2007.
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Canadian-listed oil and gas independent Candax Energy has agreed terms on a C$9.79 million equity investment with the International Finance Corporation
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Far East Energy has closed a $25 million financing with Standard Chartered to fund the development of its Shouyang Area coal bed methane project.
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ExxonMobil has told the other sponsors of the Papua New Guinea LNG project that project capital costs are likely to increase
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The European Investment Bank (EIB) has granted a Eu240 million ($323.2 million) loan to IREN to complete the regasification plant in Livorno
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E.ON is to open the bidding process in the first quarter of next year for the sale of Open Grid Europe - the company’s natural gas transport network.
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Belgian gas pipeline operator Fluxys has completed the acquisition of a stake in two pipelines in Switzerland and Germany.
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November 2011
Qatar Petroleum (QP) and ExxonMobil's $10.3 billion Barzan gas project is expected to sign in the second week of December followed by a pre-christmas first drawdown.
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PKN Orlen is testing bank appetite for a $400-800 million club deal to monetise some of its oil supplies and finance them off balance sheet
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First Hydrocarbon Nigerian's project company, FHN 26, has closed a $180 million five-year reserves-based facility
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Addax Bioenergy neatly dealt with the market and reputational risks that surround emerging markets biofuels deals. While it might serve as a useful template, there are few obvious candidates to follow its example. By Sarah Rundell.
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Fluxys, the Belgian gas pipeline operator, is due to complete the acquisition of a stake in two pipelines
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Iraq has signed a 25 year joint venture agreement with Royal Dutch Shell and Mitsubishi for a gas flaring reduction project via project company South Gas Co.
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Inpex and Total have announced that cost estimates for the Ichthys LNG project may increase by up to 30% to $30 billion
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DBNGP Finance has signed the A$400 million ($419 million) three-year club deal to refinance existing debt on the Dampier Bunbury pipeline project in Australia
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ING has led two ECA-backed deals supporting the Tamanneftegaz terminal project in Taman, Russia.
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ConocoPhillips is selling a 16.55% stake in the Colonial pipeline to Caisse de dépôt et placement du Québec for $850 million and 50% of the Seaway pipeline to Enbridge for $1.15 billion.
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Alinda Capital Partners has closed a $275 million financing for its purchase of the AL Gulf Coast Terminals from ArcLight Capital.
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Local investors and government entities are finalising their due diligence to participate as equity investors in the $3.7 billion Egyptian Refining Company
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UK-listed oil and gas independent Afren has closed a $200 million corporate loan with BNP Paribas and VTB Capital
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Ecopetrol has mandated four-lender club to arrange $3.5 billion in financing for its $5.18 billion Refinería de Cartagena expansion project in Colombia
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Peregrine Midstream Partners has closed a $145 million debt financing for the Ryckman Creek gas storage project in Wyoming
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Turkish oil refiner Tupras has reached financial close on a $2.1 billion financing package for its $2.4 billion modernisation of refinery facilities at Izmit in Turkey
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Qatar Petroleum (QP) and ExxonMobil's $10.3 billion Barzan gas project has received commitments from 31 lenders.
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El Paso Corporation and Global Infrastructure Partners have launched the $1.425 billion bank and bond refinancing of the Ruby Pipeline
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As two headline projects reach financial close, international players have gained further footholds in Russia’s oil and gas community. Looming elections hint at slower decision-making at Russia’s domestic hydrocarbon champions. By Antony Collins.
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Egyptian Hydrocarbon Corporation plans to build a second ammonium nitrate plant with a capacity of 370,000 tonnes per year.
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ArcLight Capital sold AL Gulf Coast Terminals to Alinda Capital Partners on 31 October.
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F2i and AXA reached financial close on 3 October on the Eu2.66 billion ($3.5 billion) refinancing of their three Italian gas network businesses – the G6, Enel Rete and E.ON Rete networks. The deal has gearing of 70% and involves just under Eu2.2 billion of debt.
The F2i Reti Italia con...
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October 2011
Plains Exploration & Production is selling a 20% stake in its Gulf of Mexico offshore production assets to EIG Global Energy Partners for $400 million.